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20120910
20120910
Search Results 0 to 4 of about 5 (some duplicates have been removed)
. >>> the drenching that parts of the united states got last week, including tornadoes out in queens, not really helping parched farmland. there are no farms in queens, are there? this afternoon we're going to get exclusive details on the economic impact from our senior economics reporter steve leisman. he's here live. >> in about three minutes we're going to get an e-mail from the guy that runs the farm in queens. it is a big impact from what's a small sector of the economy and it could even have an impact on the presidential election. in a detailed study of the summer's drought which scored soybeans, corn and other crops across the nation, macro economic advisors out of st. louis estimate it could shave as much as a half point off gross domestic product this year. that's a big hit to a $13 trillion economy from a total farm sector that accounts for just -- wait for it now -- 1% of the nation's output. ben herzon is the economist who did the study. pe explai he explains the drought's outside impact. >> even though it only accounts for 1% of the economy, big changes in farm output can show up in
is building an offshore oil well in a sea 90 miles off the north slope between the united states and russia. just the possibility of a disaster like the one in the gulf back in 2010 has people in alaska very concerned. alison kosik is at the new york stock exchange. this project has been in the work for six years now? >> there has been. there's even been a two-year delay for more safety testing because of the bp disaster that happened in the gulf of mexico. i want to give you an idea just what this project looks like. this is the animation from shell oil of the site we're talking about. what's happened here is the obama administration, it gave the go ahead to start what it calls limited preparatory activities. that includes installing a blowout preventer. we all learned that term two years ago when pb's blowout preventer failed in the gulf of mexico and launched the biggest oil disaster. that prompted a moratorium on all offshore drilling on new projects. the u.s. geological survey estimates we may be able to get more than 90 billion barrels of oil, carol, from this part of the world. that'
the highest price in the united states. >>> hey sal, are they burning up traffic on the east shore? >> yeah, the east shore freeway is still busy, heading out west. it's much better than we saw it. things are improving a little bit. when you get to the toll plaza things have improved there as well. we're going to see some slow traffic but it's better than it was just a little while ago. south bay pretty slow traffic. let's go to steve. >>> some fog. not much of a sea breeze. i mean there is a component of a westerly breeze. tropical clouds continue to fire up. but they are east and south of us. the direction of the upper atmosphere is just not right to bring those clouds in there. the little systems continue to move in to the north. had a lot of 40s. there were some low 40s an mid- 40s. that was all the way down to the south as well. san jose hit 60s. that's cool for them. high pressure, though, looks like it just wants to give us a slight northerly breeze. a little system went by and gave seattle its first breeze. low clouds, clear, cool, it looks like a little bit warmer day, especially f
a month or so and you see iron ore stocks, you see machinery stocks in the united states and other parts of the world rally off the back of this notion of china stimulus, are all those things built on false expectations? >> we need to look at those charts. and most of those charts have fallen very sharply in the last two months. so what we experience through our trading book on friday with short coverings, we didn't see long-only investors coming in and buying stocks this morning. what i do think is different and you've highlighted that asia has recovered -- talking about a recovery -- the local investors do seem to be more excited by this new story than we've seen for some period of time. particularly noting that cement stocks rallied quite hard today in shanghai. so that is interesting that the local investors are somewhat more enthused about this story than we've seen for months. >> okay. adrian, thank you so much for phoning in. we appreciate it. adrian mowat of jpmorgan. >>> it's interesting this morning that stocks are essentially hanging on to the sharp gains that they made last w
Search Results 0 to 4 of about 5 (some duplicates have been removed)